On May 12, according to Shenzhen Stock Exchange (SZSE), Canopus, a smart medical technology company based in Changzhou, passed the IPO approval to get listed on the GEM Board. It is the fourth company in Changzhou that has passed the IPO approval this year.

Originally listed on the New Third Board, since 2015, Canopus has expanded its business scope through mergers and private placement. Their net profit grew from 10.72 million yuan in 2014 to 111.07 million yuan in 2021. On June 30 last year, it submitted the IPO application to SZSE, hoping to get listed on the GEM Board. Its IPO approval sets an example for other businesses in Changzhou, which are also seeking multiple channels to raise capital for corporate expansion.

Through this IPO, Canopus plans to raise over 600 million yuan. The capital will be invested in the smart manufacturing of medical equipment parts, the development of minimally-invasive surgical products, and the R&D center for surgical devices.

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